Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Despite Japanese-based automotive parts supplier giant Takata declaring bankruptcy in Japan and the United States, Takata Safety Systems Hungary is continuing production and even expanding its capacity at its Miskolc factory in northeastern Hungary. In the coming months the company is adding 200 people to its current staff of 1,400 people.
The Miskolc airbag production plant was built with a HUF 20 billion (EUR 68 million) state grant in 2013, and Takata Safety Systems Hungary was named a strategic partner of the Hungarian government.
Takata's operations are divided into four independent regions, and while the Japan and the Americas region suffered the consequences of the largest ever vehicle recalls due to faulty products of the company, the EMEA (Europe, Middle East and Africa) region, which includes Takata Safety Systems Hungary, continues to have a strong financial basis.
Eurofound (2017), Takata Safety Systems Hungary, Business expansion in Hungary, factsheet number 91456, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91456.